Levy Paying Employers
- Are you a business with more than a £3m annual payroll cost?
- Do you train new staff and have existing staff that would benefit from upskilling?
- Do you want to ensure that you optimize ROI on your levy contribution?
The Apprenticeship Levy is being introduced as part of the government’s plan to help fund 3 million new Apprenticeships by 2020. If your annual payroll exceeds £3 million you will be a net contributor.
- Annual payroll of £25,000,000
- Annual Levy contribution 0.5% of £22,000,000 = £110,000 + 10% = £121,000
- £121,000 is to be used to purchase Apprenticeship provision
- Levy remains available for 18 months or remainder unused is lost.
- The Levy is payable via PAYE.
Levy contributors will be able to allocate their Levy contributions to approved providers as digital vouchers.
The voucher is redeemed against the delivery of an Apprenticeship.
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